Meta Stock (NASDAQ:META)
According to Monness, Crespi, and Hardt, an investment company, Meta Platforms (NASDAQ:META) is planning to announce a portion of its vision for the metaverse at its Connect conference later this week. As a result, Meta stock surged in the market today.
Analyst Brian White, who has a buy rating on Meta Platforms (NASDAQ:META) and a price target of $230 for the Meta stock, stated that he anticipates updates on the state of the metaverse as well as new innovations to be announced at the company’s keynote address, along with the company’s new virtual reality headset, which is currently under the codename Project Cambria.
White said that the new headset, which might be dubbed the Quest Pro, is expected to contain new sensors that allow the high-definition color to increase realism and powerful reconstruction algorithms to depict the actual environment. He stated that these features will likely be included in the new headset.
Another observation made by the analyst was that Meta Platforms (NASDAQ:META) is the “clear leader” in virtual reality because their Quest 2 headgear accounts for 90% of the market share.
White observed that “it will be intriguing to see the big tech giants duke it out in this fledgling but promising sector over the coming decade.” This is about the widespread expectation that Apple (NASDAQ:AAPL) would soon join the realm of augmented and virtual reality.
The monetization of Meta’s (NASDAQ:META) short-form video product, Reels, was referred to as “ramping up” in a report published by investment company Citi on Friday. This resulted in the increased trading volume of Meta stock.
Featured Image- Megapixl @ Colour59
Author Shariq Khan 
